Mergers & Acquisitions

  • January 21, 2022

    IPO Market Gets Off To A Rocky Start In 2022

    Initial public offerings are off to a bumpy start in 2022, evidenced by several delayed offerings and mixed performances among companies that have gone public amid choppy conditions, chilling the near-term outlook for IPO prospects.

  • January 21, 2022

    Fintech-Focused SPAC Leads IPO Trio Totaling $625M

    Three blank-check companies focused on the financial services, cyber and media industries began trading Friday after raising a collective $625 million in initial public offerings led by seven law firms including King & Spalding LLP and Proskauer Rose LLP.

  • January 21, 2022

    2 Firms Guide Pot Banking Co.'s Tie-Up With Compliance Firm

    Dama Financial, a company that provides financial and business tools to the cannabis industry, announced Thursday it had entered into an agreement to acquire GrowFlow Corp., a seed-to-sale cannabis software company, in a deal guided by Goodwin Procter LLP and Cooley LLP.

  • January 21, 2022

    Don't Miss It: Ropes & Gray, Fenwick Guide Week's Hot Deals

    With so much mergers and acquisitions news this week, you may have missed several deals announced in the last several days helmed by firms such as Ropes & Gray LLP and Fenwick & West LLP.

  • January 21, 2022

    SPAC N2 Acquisition Withdraws $450M IPO

    N2 Acquisition Holdings Corp., a special-purpose acquisition company led by the founders of investment firms TOMS Capital and Mariposa Capital, pulled back its plans for a potential $450 million initial public offering on Friday.

  • January 21, 2022

    Mergers & Acquisitions Group Of The Year: Latham

    Latham & Watkins LLP handled some of the biggest deals of last year, including advising Slack on its $27.7 billion sale to Salesforce and Intuit's $12 billion acquisition of Mailchimp, earning the firm a spot among Law360's Mergers & Acquisitions Groups of the Year for the second time in a row.

  • January 21, 2022

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen more than 3,000 motorists go after a German carmaker, Fladgate LLP face a professional negligence claim from an investment group, and a Hungarian airline sue the publisher of its in-flight magazine. Here, Law360 looks at these and other new claims in the U.K.

  • January 21, 2022

    Piraeus Bank Nabs €98M Major Stake In Greek Real Estate Co.

    Piraeus Bank said Friday that it plans to buy a controlling stake of 52% in Greece-based Trastor Real Estate Investment Co. SA for €98 million (about $111 million) from an affiliate of private equity firm Värde Partners.

  • January 21, 2022

    DOJ Antitrust Division Names Permanent Deputy

    The U.S. Department of Justice has named Doha Mekki as its permanent deputy assistant attorney general for its Antitrust Division, after she first took on the role on an acting basis in November.

  • January 21, 2022

    Aristocrat's £2.1B Playtech Buy On Track After Rival Bows Out

    A consortium co-led by a former Formula 1 team owner said Friday that it has dropped its pursuit of Playtech, clearing the path for rival suitor Aristocrat Leisure to complete its roughly £2.1 billion ($2.9 billion) acquisition of the U.K. gambling software company.

  • January 21, 2022

    SPAC Led By Ex-Trump Adviser Makes $9.3B Bet On Allwyn

    European gaming and lottery company Allwyn will go public at a roughly $9.3 billion enterprise value by merging with a special purpose acquisition vehicle co-led by the onetime chief economic adviser to former President Donald Trump, the companies said Friday, in an agreement shaped by four law firms.

  • January 20, 2022

    Food Industry-Focused SPAC Leads 2 IPOs Totaling $285M

    Two blank-check companies focused on the food service and technology industries began publicly trading Thursday after raising a collective $285 million in initial public offerings led by four law firms including Katten Muchin Rosenman LLP and Nelson Mullins Riley & Scarborough LLP.

  • January 20, 2022

    Facebook Tells 9th Circ. App Developers Lack Standing

    Facebook has told the Ninth Circuit that developers accusing it of violating antitrust law through acquisitions and by cutting off access to its network were not injured by the alleged activity and thus have no right to sue, while the developers insist the moves completely or partially destroyed their businesses.

  • January 20, 2022

    Ill. Judge Tosses Ex-Cannabis Co. Exec's Fraud Claim

    A Cook County judge Thursday trimmed a fraud claim from a lawsuit brought by a former executive for a cannabis company acquired by multistate giant Curaleaf, saying she hadn't adequately established that promises the company's CEO made to her were false at the time or that he owed a duty to share certain information with her.

  • January 20, 2022

    Latham, Davis Polk Guide Psychedelic Co.'s SPAC Merger

    Special purpose acquisition company Silver Spike Acquisition Corp. II announced Thursday it had entered into an agreement with psychedelic pharmaceutical developer Eleusis to take the clinical-stage life sciences company public, in a deal that is expected to generate gross proceeds of up to $288 million.

  • January 20, 2022

    Chancery Confirms Arbitration Award In Agribiz Sale Saga

    Delaware's Chancery Court has upheld an arbitration award requiring legal fee advancements for founders and sellers of a now-insolvent agricultural commodities business, rejecting a challenge from buyers who alleged fraud in the sale and warned that a multimillion-dollar fee would threaten the business.

  • January 20, 2022

    Firms Get $23.5M For $100M Merger Suit Settlement In Del.

    Three firms are getting a $23.5 million fee per a vice chancellor's approval of a $100 million settlement of a Delaware Chancery Court suit that accused Clayton Dubilier & Rice LLC of steering a construction industry supplier it controlled into an allegedly "grossly unfair" $1.2 billion merger.

  • January 20, 2022

    RR Donnelley Reveals New Bid From Unnamed Suitor

    Marketing and communications company R.R. Donnelley & Sons said Thursday that an unidentified suitor seeking to usurp its $2.3 billion takeover by Chatham Asset Management has launched an increased offer that is valued at $11.50 per share and may constitute a superior deal.

  • January 20, 2022

    Mergers & Acquisitions Group Of The Year: Debevoise

    Debevoise & Plimpton LLP helped represent Discovery as part of its $43 billion reverse Morris trust deal with AT&T's WarnerMedia, as well as a special committee of Liberty Broadband Corp. for its multibillion-dollar acquisition of GCI Liberty Inc., helping Debevoise earn a place among Law360's 2021 Mergers & Acquisitions Groups of the Year.

  • January 20, 2022

    Deals Rumor Mill: Zentiva, Carlyle Group, Acorns Grow

    The deals rumor mill is often overflowing with transactions that are reportedly close to being inked, but with so many rumors it can be hard to know which ones to stay on top of every week. Here, Law360 breaks down the deal rumors from the past week that you need to be aware of.

  • January 20, 2022

    Blackstone Buys Precision Parts Co. Interplex In $1.6B Deal

    Blackstone Group will buy Singapore-based precision engineering company Interplex from Baring Private Equity Asia at an enterprise value of $1.6 billion, the companies said Thursday.

  • January 19, 2022

    Burns & Levinson Adds 2 Attys To Corporate Cannabis Group

    Burns & Levinson has added two attorneys, including a partner, to its cannabis business and law advisory group, the firm has announced.

  • January 19, 2022

    Del. Chancery Approves Expedia Settlement, $6.5M Fee Award

    A Delaware Chancery Court judge on Wednesday approved a settlement resolving a derivative stockholder suit that claimed Expedia Group Inc.'s $2.6 billion acquisition of Liberty Expedia Holdings Inc. was unfairly structured to benefit Expedia Chairman Barry Diller and his family.

  • January 19, 2022

    UK Probing NortonLifeLock Deal For Cybersecurity Co. Avast

    NortonLifeLock's plan to pick up Czech cybersecurity software company Avast has caught the eye of the United Kingdom's competition enforcer, which revealed Wednesday that it was looking into the deal.

  • January 19, 2022

    Why Microsoft's $68.7B Activision Play Will Probably Succeed

    Microsoft's colossal $68.7 billion deal to buy Activision Blizzard is sure to receive heavy scrutiny from U.S. antitrust and competition regulators, but experts say the transaction is unlikely to be blocked because it doesn't contain obvious anti-competitive implications.

Expert Analysis

  • What To Expect From Merger Guideline Modernization

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    The U.S. Department of Justice's and Federal Trade Commission's recent request for comment on amending the merger review guidelines provides perhaps the clearest indication yet of where guideline revisions might focus, including on structural presumptions, the role of market definition and the effect of transactions on labor, say attorneys at MoFo.

  • The Rising Demand For Commercial Litigators In 2022

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    Amid broken supply chains, pandemic-induced bankruptcies and a rise in regulation by litigation, strong commercial litigators — strategists who are adept in trying a range of tortious and contractual disputes — are becoming a must-have for many law firms, making this year an opportune moment to make the career switch, say Michael Ascher and Kimberly Donlon at Major Lindsey.

  • Biden's Antitrust Shift May Play Out On The Golf Course

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    The Biden administration's tougher stance on antitrust enforcement could bring about changes in professional golf, particularly restrictions on non-PGA tournaments and broadcasts, says Tad Lipsky at George Mason University.

  • Antitrust's 1900s Nostalgia In The US And Beyond

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    President Joe Biden's appointees will continue to pursue a return to a previous antitrust era this year — the Federal Trade Commission, in particular, is dusting off its old tools — and similar developments are occurring in Europe and Asia, says Maureen Ohlhausen at Baker Botts.

  • Key Contract Lessons In Del. Justices' Hotel Deal Ruling

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    The Delaware Supreme Court recently ruled in AB Stabile v. MAPS Hotels that a Chinese financial conglomerate breached a hotel sale agreement's standard ordinary course covenant, providing significant insight on the meaning and application of these contracts, and the need for consent on material changes prior to closing, say attorneys at Quinn Emanuel.

  • Opinion

    FTC Merger Policy Shifts May Spur Uncertainty And Risk

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    The Federal Trade Commission's recent measures to reshape enforcement priorities on vertical merger guidelines, prior approval and warning letters may increase uncertainty for companies seeking approval for their transactions, and require earlier attention to the process, say attorneys at Wiggin and Dana.

  • Evaluating Director Protections After Del. Bankruptcy Ruling

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    The Delaware Bankruptcy Court's recent decision in Friedman v. Wellspring Capital, outlining the conditions under which an alleged duty of loyalty breach can survive a motion to dismiss, may undermine corporate decision makers' ability to negotiate for what are customary and necessary protections as they manage distressed entity transactions, say attorneys at Ropes & Gray.

  • Opinion

    FTC Should Rethink Market Issues In Facebook Case

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    The Federal Trade Commission's antitrust prosecution of Meta Platforms, formerly Facebook, may have survived the initial litigation stage this week, but the case still does not embrace the markets it purports to fix, says David Reichenberg at Cozen O'Connor.

  • M&A Ruling Illustrates Limits Of Disclaiming Fraud In Del.

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    The Delaware Chancery Court's recent ruling in Fortis Advisors v. Johnson & Johnson shows that parties negotiating M&A transactions should be mindful that extracontractual fraud claims may only be eliminated through explicit anti-reliance provisions, say attorneys at Troutman Pepper.

  • How In-House Counsel Can Make The Case For Settling Early

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    Following the recent settlement in McDonald's v. Easterbrook, in-house counsel should consider decision-tree analyses and values-driven communications plans to secure effective, early resolutions in litigation, saving time and money and moving the company mission forward, say Ronald Levine at Herrick Feinstein and Richard Torrenzano at The Torrenzano Group.

  • To Retain Talent, GCs Should Prioritize Mission Statements

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    With greater legal demands and an increasing number of workers resigning during the pandemic, general counsel should take steps to articulate their teams' values in departmental mission statements, which will help them better prioritize corporate values and attract and retain talent, says Catherine Kemnitz at Axiom.

  • How Health Cos. Can Minimize Consolidation Risk

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    Mergers among health providers face high regulatory risk at the same time that the pandemic and other factors are increasing pressure to consolidate, but adapting presentations to regulators' new perspectives, and consideration of other types of collaborations, can help, says David Dahlquist at Winston & Strawn.

  • Health Care Policy Priorities To Watch In 2022

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    The Build Back Better Act is at the forefront of Congress' lengthy health care agenda this year, but there are a number of other issues that health companies and their legal teams should watch closely, including the pandemic's continuing impact on telehealth licensure requirements, surprise-billing regulations and increasing scrutiny of market consolidation, say Miranda Franco and Robert Bradner at Holland & Knight.

  • Anticipate Another Busy Year Of M&A Activity

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    M&A action is likely to continue at a hectic pace this year, with 24/7 remote work practices, regulatory covenant litigation, and acquisitions of supply chain actors all showing no signs of slowing down, says Ethan Klingsberg at Freshfields.

  • Green Light On SPAC Deal Suit Puts Fiduciary Duty In Context

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    By allowing a class suit over the MultiPlan special-purpose acquisition company merger to proceed, the Delaware Chancery Court demonstrates the importance of robust disclosures to avoid triggering fiduciary duty claims against a SPAC's sponsor and its directors, say attorneys at Skadden.

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